Survey Says Around 40% Chinese Respondents Would Invest in Cryptocurrencies

According to a recent survey conducted by PANews, a Chinese blockchain news site, only 40% of the 4,200 surveyed people are willing to invest in cryptos like Bitcoin. Remaining 63% of people surveyed think cryptocurrencies are unnecessary as a payment system.

Out of 40%, 14% of the people surveyed had already invested in cryptocurrencies. The survey conducted questionnaires based on the age group and found the majority who have invested in China’s investment community cryptos, were born in the 1990s. Around 75 people out of 4200 surveyed individuals never heard of the blockchain, and it seemed they hardly understood and, i.e., 98.22% were aware of cryptocurrencies. Thus, young millennials in China know crypto well.

Though it has been a tough year for crypto markets in China because of ICO crackdown of 2017 in which ICOs were banned & some of the crypto exchanges were shut down. But still, interest in cryptos amongst young generation in China remains high, and through plenty of exchanges, they can access crypto markets.

The government of China recently published its latest ranking of cryptocurrencies, where BTC occupied 18th place, and EOS got the top position whereas ETH (3rd largest cryptocurrency by market cap) secured 2nd place.

Ron Paul (former United States congressman) conducted a Twitter survey in mid-November with 94,894 votes in favor of Bitcoin over traditional forms of money. German Federal Association for Information Technology, Telecommunications and New Media (Bitkom) also conducted a recent survey where 25% of big German businesses think blockchain and cryptocurrencies as a revolution

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